Quantitative Systematic Strategies LLC acquired a new position in Marvell Technology Group Ltd. (NASDAQ:MRVL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 20,120 shares of the semiconductor company’s stock, valued at approximately $432,000.
Several other institutional investors also recently bought and sold shares of the company. D.A. Davidson & CO. grew its position in shares of Marvell Technology Group by 10.2% in the 2nd quarter. D.A. Davidson & CO. now owns 6,461 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 600 shares during the period. Meeder Asset Management Inc. bought a new stake in Marvell Technology Group in the 3rd quarter valued at approximately $106,000. Massey Quick Simon & CO. LLC bought a new stake in Marvell Technology Group in the 3rd quarter valued at approximately $124,000. Boothbay Fund Management LLC bought a new stake in Marvell Technology Group in the 3rd quarter valued at approximately $203,000. Finally, First Quadrant L P CA bought a new stake in Marvell Technology Group in the 3rd quarter valued at approximately $211,000. Institutional investors own 77.72% of the company’s stock.
MRVL has been the topic of several research reports. Jefferies Group set a $19.00 target price on Marvell Technology Group and gave the company a “hold” rating in a research note on Wednesday, October 18th. Oppenheimer reiterated a “buy” rating and set a $23.00 price objective on shares of Marvell Technology Group in a research note on Monday, November 6th. Citigroup upgraded Marvell Technology Group from a “sell” rating to a “neutral” rating and set a $22.00 price objective on the stock in a research note on Tuesday, November 7th. Bank of America raised Marvell Technology Group from a “neutral” rating to a “buy” rating in a report on Monday, November 20th. Finally, Benchmark raised Marvell Technology Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $17.00 to $30.00 in a report on Monday, November 20th. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $23.92.
Marvell Technology Group Ltd. (NASDAQ:MRVL) traded up $0.40 during midday trading on Wednesday, reaching $22.32. The company had a trading volume of 10,983,200 shares, compared to its average volume of 8,590,428. Marvell Technology Group Ltd. has a fifty-two week low of $14.58 and a fifty-two week high of $24.22. The firm has a market capitalization of $10,960.00, a PE ratio of 39.08, a P/E/G ratio of 1.15 and a beta of 0.95.
Marvell Technology Group (NASDAQ:MRVL) last announced its quarterly earnings data on Tuesday, November 28th. The semiconductor company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. Marvell Technology Group had a return on equity of 11.93% and a net margin of 16.53%. The firm had revenue of $616.00 million during the quarter, compared to analysts’ expectations of $613.49 million. During the same quarter last year, the firm posted $0.20 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. equities analysts expect that Marvell Technology Group Ltd. will post 1.01 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Wednesday, December 27th were issued a $0.06 dividend. The ex-dividend date was Tuesday, December 26th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.08%. Marvell Technology Group’s dividend payout ratio is presently 42.11%.
In related news, Director Michael G. Strachan sold 20,000 shares of Marvell Technology Group stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $23.65, for a total transaction of $473,000.00. Following the sale, the director now directly owns 19,702 shares in the company, valued at $465,952.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marvell Semiconductor, Inc. Ca sold 1,512 shares of Marvell Technology Group stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $23.86, for a total value of $36,076.32. The disclosure for this sale can be found here. Insiders sold 31,324 shares of company stock worth $717,091 in the last 90 days. Corporate insiders own 6.80% of the company’s stock.
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Marvell Technology Group Profile
Marvell Technology Group Ltd. is a semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution.
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